Synagro Technologies Inc., of Baltimore and Denali Water Solutions LLC, of Russellville, Arkansas, have entered into an agreement wherein Synagro will acquire Denali’s municipal biosolids services business in California in exchange for Synagro’s industrial non-biosolids organics assets in Arkansas and Missouri.
“This transaction enables both Synagro and Denali to unlock tremendous value and grow our respective footprints in key markets,” said Bob Preston, CEO and and chairman of Synagro. “We remain committed to our industrial customers and believe this move will service them better while allowing us to focus on the sustainable growth of biosolids with municipal customers in the Ozarks.”
The companies said the transaction represents an important increase in compost capacity for their customers by sending more biosolids, food and green waste to beneficial use.
“We are pleased to have worked with Synagro on a mutually accretive transaction,” said Todd Mathes, CEO, Denali. “While we remain committed to our municipal services in other markets, exiting the California biosolids market will allow us to prioritize our other organics activities in the state, such as food waste and used cooking oil recycling. Moreover, we are excited to further expand our capabilities in Arkansas and Missouri, where Denali has a strong legacy of service and sustainability.”
Synagro processes organics from about 1,000 municipal, industrial water and wastewater facilities into compost and fertilizer pellets. Denali is an organic recycling company.
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